Generator Sets Market

• Because of the outbreak of novel coronavirus, global economy has been going through a tough phase. The unexpected outbreak and rapid expansion of coronavirus has led to hamper many ongoing infrastructural projects, house construction and renovation projects. 
• Apart from this, there has been an increase in demand for power supply in health care industry because of increasing number of cases hospitals are now running at full capacity day and night. Governments of various countries have been setting up temporary quarantine centers and hospitals. This has created all of a sudden rise in demand for continues power supply generators, which more than 750 kVa rated have been in demand for their power supply.

Top Impacting Factors

With the increase in technology, urbanization and use of automatic devices, demand has been increasing for generator sets. And to make devices work/run, electricity in needed. Therefore, from end-user industries, there has been an increase in demand for power generating systems. The use of bio-fuel generator that runs on gas and diesel, both is expected to grow. Diesel fuel generators are commonly used in houses and commercially. This affects the environment by increasing amount of carbon gases into the environment. Thus there has been increase in adoption of clean sources of energy from various countries. This will be a challenge for the generator market in future.
Market Trends

• In developing countries such as India, where government is focusing on building of smart cities, hospitals and school, colleges. There is need for power supply backup for the construction work such as providing lights to the workers if working in night, to carry the construction materials. There is growth in construction industry power backups needed for the construction work. 
• For on-site emergency power supply diesel generators have been in use for a longer period, but because of carbon emission, the government and environmental bodies are concerned about this. Manufacturers have been focusing on development of duel fuel generators, which run on both gas and diesel. As gas is cheaper and has low emission of carbon.
•  With the increase in small scale industries like restaurants, shopping malls, and petrol pumps and also in emergency services like banks and ATMs, there is always a need for electricity and to avoid unexpected chances of electricity cut off, they need to have a backup always, which increases the demand for generators, specifically one with low capacity. 
• In telecom industry, generators pay a huge role because companies have to set up their towers in both rural and urban areas but in rural areas there are more chances off electricity interruption. And towers have to work all the time, so companies buy generators in huge amount specifically for use in rural areas.
• For household purpose, there is a large market demand for small capacity generators for power backup purpose. Because in case of electric grid failure or any natural disaster, people have their own power supply backup. 

Key Benefits of the Report

• This study presents the analytical depiction of the Generator Sets Market industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Generator Sets Market share.
• The current market is quantitatively analyzed from 2020 to 2028 to highlight the Generator Sets Market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed Generator Sets Market analysis based on competitive intensity and how the competition will take shape in coming years